RIPPLES NIGERIA
The Nigerian currency, the naira, gained N2 against the American dollar on Tuesday, August 27, 2024 to reverse losses recorded the previous day.
The domestic currency traded at N1,594/$1, data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) has shown.
This is against the rate of N1,596/$1 it traded on Monday August 26, 2024.
The intra-day high and low recorded during the day were N1,612/$1 and N1,505/$1 respectively, representing a lean spread of N107\$1.
The naira gained N5 against the dollar at the parallel section of the FX market to trade at N1,615/$1, as against the previous rate of N1,620/$1.
This now puts the difference between naira rate at the official window and the parallel market at N21.
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